KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Significant Increase in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 506,600 shares, a growth of 34.8% from the February 13th total of 375,900 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 174,800 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in KORU Medical Systems by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock valued at $1,262,000 after buying an additional 28,323 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in KORU Medical Systems in the 4th quarter valued at $104,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of KORU Medical Systems by 77.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after acquiring an additional 26,860 shares during the period. Calamos Advisors LLC bought a new stake in shares of KORU Medical Systems during the 4th quarter valued at $250,000. Finally, XTX Topco Ltd bought a new stake in shares of KORU Medical Systems during the 3rd quarter valued at $34,000. 58.60% of the stock is owned by institutional investors and hedge funds.

KORU Medical Systems Stock Performance

NASDAQ KRMD traded up $0.20 on Monday, reaching $2.97. The stock had a trading volume of 233,080 shares, compared to its average volume of 136,099. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.99 and a quick ratio of 2.37. The firm has a fifty day moving average of $3.92 and a two-hundred day moving average of $3.41. KORU Medical Systems has a 1-year low of $2.04 and a 1-year high of $5.05. The company has a market cap of $136.14 million, a P/E ratio of -11.88 and a beta of 0.74.

Analysts Set New Price Targets

KRMD has been the topic of several recent analyst reports. Craig Hallum boosted their price target on KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $4.50 price target on shares of KORU Medical Systems in a research report on Friday, February 14th. Lake Street Capital boosted their price target on KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, B. Riley raised KORU Medical Systems to a “strong-buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KORU Medical Systems presently has an average rating of “Buy” and a consensus target price of $4.70.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.